Justin Lutz

The Heirs of the Great Recession: Why Students Want Financial Reform

For America’s students, graduation seems to be approaching much faster than financial reform.

As commencement approaches next week, the weather is calling for thunderstorms, and the imagery couldn’t be more apt. What is usually supposed to be a moment of celebration and achievement has turned into a ritual laden with Schadenfreude, as the rest of the world looks on, grimacing, with talk of the recession and its heirs — my class.

Jokes of walking off stage and into unemployment permeate any conversation about graduation. “What are you doing after college,” they ask, grateful that they aren’t in this place; they aren’t the…

Faith and Credit: Bridging the Gap for Working Families

Faith-based financial reform initiatives hit the senate floor for a battle.

The Center for Responsible Lending has been spear-heading the push for financial reform for some time now, and their “Faith and Credit” program has been one of their most innovative projects for ensuring reform.

“For people of faith, responsible lending is a moral concern,” the website reads.

The urgency and salience of responsible lending is something that can bring us all together in defense of working families seeking a stable home. The CRL and its “Faith for Credit” program has been doing phenomenal work on consumer rights and financial reform, and this week…

ND20 Alert: Elizabeth Warren at SEIU Event Tomorrow in D.C.

ND20 contributor Elizabeth Warren will talk about how people can get involved with financial reform. If you’re in D.C., show your support this Thursday!

Harvard Law Professor Elizabeth Warren and members and leaders of SEIU and National People’s Action will discuss how policy leaders and everyday Americans must work to keep Wall Street recklessness in check and rebuild America’s economy and the middle class.

Warren, a fierce consumer advocate, has been watching out for ordinary folks that Wall Street has preyed upon (See her posts, Feminomics: Women and Bankruptcy; New Agenda for America: The Great Lesson).

And in case you missed it, check…

Dean Baker on Sub-optimal Financial Reform: ‘The Scare Stories Worked”

Speaking at Sarah Lawrence College, Dean Baker condemns what he calls the “who-could-have-known” economic model.

Last week I had attended a talk by Dean Baker, Co-director of the Center for Economic and Policy Research, held at my school. The talk, entitled “The Second Great Depression: How Dumb Could We Be?,” outlined the rise of an $8 trillion housing bubble, the collapse of which helped bring on our current crisis.

The finger-pointing in Washington and on Wall St. has hit a fever pitch. No one seems to be accepting responsibility for the crisis. Everyone insists that this was an unprecedented event, unforeseeable even…

April 29

“What you need to know to navigate today’s economic debate.”

Red, Blue, and Broke (NYT)
Gail Collins shows how financial failure transcends partisan labels to penetrate every corner of the country.

What Will It Take to Save Greece? (TIME)
Standard & Poor’s downgrade of Greek debt to junk bond status may have irrevocable consequences for European markets.

Obama to Nominate Three to Fed Board (WSJ)
President Obama makes a timely move today to fill three top spots at the Federal Reserve Board.

Can Europe Save Itself? (NYT)
Peter Boone and Simon Johnson on how cracks in the foundation of the euro zone pose catastrophic threats to Europe and…

April 28

“What you need to know to navigate today’s economic debate.”

TODAY: ND20 Bloggers Ready to Take On Deficit Hawks at D.C. Counter-Conference (ND20)
NewDeal2.0 readies for an economic  showdown live from the Fiscal Sustainability Teach-In Counter-Conference in D.C.

Wake the President (BaselineScenario)
Simon Johnson on why it is imperative that President Obama wake up to the realities of a destabilized Eurozone at the hands of mammoth risk.

Wall St. Casino (NYT)
The etiology of the financial crisis has bipartisan roots, as evidenced by the hypocrisy of Senate Republicans voting to block debate on financial reform.

Olive Oil and Snake Oil (NYT)
Maureen Dowd recounts the slithering testimony of Goldman’s top…

April 27

“What you need to know to navigate today’s economic debate.”

Goldman Steels Itself for a Senate Grilling (TIME)
Bigwigs from Goldman Sachs are set to defend themselves today before the Senate Permanent Subcommittee on Investigations.

First Reactions: Dems’ Financial Reform Test Vote Fails (Atlantic)
Democratic passage of financial reform has met its first substantial defeat as a Republican fillibuster endures.

Meet the Real Villain of the Financial Crisis (NYT)
Behany McLean cites a dearth of stringent financial regulations as the real villain in the Goldman scandal.

Probe: Goldman Eyed Profits from Housing Bust (CBS)
Senate investigators find Goldman Sachs deceived investors about toxic mortgages, then lied about it!

The Goldman…

April 28: ND20 Bloggers Ready to Take On Deficit Hawks at D.C. Counter-Conference

ND2.0 bloggers Marshall Auerback and L. Randall Wray prepare to confront neoliberal propaganda and deficit hysteria at this D.C. teach-in.

The deafening screams of deficit hawks have reached a fever pitch as the Peter G. Peterson Foundation announces that it will hold a special summit “to launch a national bipartisan dialogue on America’s fiscal challenges.” The list of featured speakers reads like a FCIC subpoena, with Alan Greenspan and Robert Rubin set to stoke populist fear and proclaim the evils of government spending; other speakers include Judd Gregg, John Podesta, Paul Volcker, and former President Clinton. This motley crew of Washington and Wall St.…

April 26

“What you need to know to navigate today’s economic debate.”

Fight On, Goldman Sachs! (NYT)
Frank Rich on how Goldman’s struggle to escape a reputation as the symbol of Wall St. corruption is yielding some positive results for financial reform.

Berating the Raters (NYT)
Paul Krugman invokes New Deal-era financial regulation, calling for the release of e-mails that expose the crucial role of credit ratings in the financial crisis.

They’ve Got It: Fixes for the Financial System (NYT)
Intellectually honest economic ideas from experts unhindered by practical motivations, including Roosevelt Institute Chief Economist Joe Stiglitz.

Out of the Black Hole (AmericanProspect)
The Roosevelt Administration’s implementation of financial regulation…

April 23

“What you need to know to navigate today’s economic debate.”

Don’t Cry for Wall Street (NYT)
Paul Krugman reminds us that what is right for the country might not be what is in the best interest of big banks–and that is okay.

Sizing Up Seven Key Elements of Financial Reform (TIME)
Fresh off his speech at Cooper Union, TIME dissects President Obama’s plan for financial reform piece by piece.

For Good Financial Reform, We Need More Chum (HuffPo)
Erica Payne on why political theater and muckraking give the media the juicy meat it requires, and help along reform legislation in the process.

SEC Staff Watched Porn as Economy Crashed…